Hi Early,
I didn't step into my office until after 5pm west coast time. ELN news is all good and I'd expect it to move right smartly over 20. You can trade it tomorrow. Or not. I have to wait 'til Thursday and I can tell you I have one hell of a position in this. But with the positive AC vote, downside risk is minimal at this point.
I called my broker, Fido, and talked with a representative from their Active Trader section. I wanted the specifics on just what I could and could not trade today, so I could leave with some sell orders (no cash to buy with now). He told me that since I had ELN shares from purchases previous to yesterday, I could sell those FIFO) without a "good faith" violation. I took him at his word and put in some "ridiculous" sell orders in both FRPT and ELN. Turns out he was wrong and that would have been a GF violation had they sold (they didn't, but sure came close in AH). I would really have been angry to get a violation letter after stupid advise from one of their brokers, but I know Fido well enough to know that they aren't going to do me any favors. He tried to call me three times, but of course I was long gone.
OT: Went to the mountains to help Washington Trail Assoc (WTA) put in a new trail. It is an all-day affair and takes about 1 1/2 hours to get there. It is really hard work, but it is in the National Forest under the trees. It is just good for me to get away to do this. I am trying to help them about every other week. Yes, it interferes with my trading, but the positives outweigh the negatives. I only mention this because I would hope everyone who trades for a living can get away from it for a little bit, doing something that takes your mind off the market. Hard work, but a wonderful day. And the ELN trade is working out without me willing it on from the office.
Regards and good trading. I'll be at my station tomorrow morning.
Jay
AI
